Douglas Dynamics, Inc. has completed the acquisition of substantially all the assets of TrynEx, Inc., the leader in truck-mounted salt and sand spreader equipment under the brand name SnowEx. TrynEx also provides turf application and industrial attachment products under the brand names TurfEx and SweepEx.
Douglas Dynamics acquired substantially all the assets for a purchase price of $26 million. Acquired assets include TrynEx's full line of product offerings from its SnowEx, TurfEx and SweepEx brands and access to TrynEx's network of approximately 1,500 authorized dealers worldwide spanning 26 countries. The acquisition of the TrynEx assets is expected to be accretive to earnings per share on a full-year basis and free cash flow positive on a standalone basis in 2014.
Douglas Dynamics remains in a strong financial position and is committed to its capital allocation strategy of paying a dividend to its shareholders, paying down debt and pursuing strategic acquisitions at disciplined valuations to add shareholder value.
The acquisition was funded through the use of Douglas Dynamics' existing asset based revolving line of credit.